Hancock Whitney Corp reduced its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,370 shares of the real estate investment trust's stock after selling 5,892 shares during the quarter. Hancock Whitney Corp's holdings in Lamar Advertising were worth $2,588,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock worth $25,000 after buying an additional 151 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising in the third quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising in the second quarter valued at about $30,000. Finally, Assetmark Inc. lifted its position in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. 93.78% of the stock is owned by institutional investors.
Lamar Advertising Price Performance
Shares of LAMR traded down $0.34 during trading hours on Tuesday, reaching $133.08. 826,519 shares of the company's stock traded hands, compared to its average volume of 410,970. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm's 50 day simple moving average is $132.52 and its 200-day simple moving average is $124.01. The stock has a market cap of $13.62 billion, a PE ratio of 26.62 and a beta of 1.52. Lamar Advertising has a 12 month low of $97.54 and a 12 month high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. During the same period in the previous year, the company earned $2.04 EPS. Lamar Advertising's quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Lamar Advertising will post 7.52 EPS for the current year.
Wall Street Analyst Weigh In
LAMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Wells Fargo & Company decreased their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $132.40.
Read Our Latest Analysis on LAMR
Lamar Advertising Company Profile
(
Free Report)
Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.
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